Southern Cross Constellation stacker bars

Discussion in 'Silver' started by jparrie, Mar 9, 2021.

  1. jparrie

    jparrie Member

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    https://www.bullionlist.com.au/silver/southern-cross/10oz-southern-cross-constellation-silver-bar

    I'm in the process of valuing 100 of these bars held in my Super account, the idea being that I am going to sell them to myself, so I need to be able to prove their value. Apart from Bullion List, are there any other quotable sources that sell these bars that anyone knows about? Unless I'm blind, and I could be, my searches haven't found these things anywhere other than BL.

    Thanks... it's been a while!
     
  2. Captain Kookaburra

    Captain Kookaburra Well-Known Member Silver Stacker

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    For Super, you value them at spot.

    If you take premium into account then you are overestimating profit and paying too much tax.
     
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  3. fishduck

    fishduck Well-Known Member Silver Stacker

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    Do you need proof of receipt to show how much you paid for these? How do you tell the ATO when your super balance shows what you paid for (with premium on top) but value them at spot on the books?
     
  4. alor

    alor Well-Known Member Silver Stacker

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    value them at zero. sorry we need not pay tax ;)
     
  5. jparrie

    jparrie Member

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    I understand your thinking. But part of the process is to get as much as possible into Super, so underestimating the actual true cost of these things will deprive my account of capital. Plus, I have losses to use.

    But apart from all that, is BL the only place that sells them?

    EDIT: Just read an interesting article: https://www.smsfadviser.com/strategy/18060-gold-and-silver-in-your-smsf-an-auditor-s-perspective that says that it is probably best to not attribute any additional numismatic value to bullion held within Super, because doing so might lead to the bullion being classed as a collectible. So I think the Captain may be right on this one.
     
    Last edited: Mar 18, 2021
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  6. dash007

    dash007 New Member

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    I have 9 of the 10oz Southern Cross Cast Silver Bars here in Sydney. Looking to sell them if anyone interested.
     
  7. aussiesilver

    aussiesilver Well-Known Member Silver Stacker

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    Start a new thread Dash in the sell section
     
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